Index trend and stocks in action April 20, 2018
The NSE benchmark Nifty oscillated in a lean range of only 26 points throughout the day. The price action formed a Doji candlestick pattern. Going ahead, the level of 10,600 will act as an immediate resistance, followed by 10,630. On the downside, Tuesday session's low of 10,495 would act as a crucial support level, and as a long as Nifty manages to hold this support level, it is likely to reclaim the level of 10,631, which is the high of February 27, 2018. Only a sustainable move below 10,495 would disturb the higher high-higher low sequence and lead the index into a temporary sideways phase. The RSI stands at 62.81 and it has marked a fresh 14-period high.
JB Chemicals and Pharmaceuticals: Company has received an order from Office of Member Secretary, Pollution Control Committee, directing the closure of the Company's formulation manufacturing facility at Daman on the ground of alleged deviation of standards of treated waste water released from ETPoutlet of the said facility.
Lasa Supergenerics: LASA Received WHO-GMP Certificate for unit situated at Mahad.
Info Edge: The Company has invested through its wholly-owned subsidiary about Rs. 3 Cr. in Bizcrum Infotech Private Ltd.
Kakatiya Cement: Company resumes operation at Telangana plant after its closure on pollution grounds.
Indian Metal and Ferro Alloys: The Company has received demand notices for alleged excess mining in respect of its Nuasahi and Bangur Chromite Mines amounting to Rs 24.13 crore and is taking appropriate legal advice to determine the future course of action. Taken in conjunction with the earlier notices received in respect of Sukinda and Chingudipal Chromite Mines the total cumulative demand stands at Rs 122.90 crore.
Mahindra and Mahindra: Mahindra forms unit in Bangladesh Mahindra Susten.
Religare Enterprises: Company raises Rs 145 crore via issue of 11.14 crore warrants at Rs 52.30 each on preferential basis.